LOUISVILLE, Ky. — Brown-Forman announced Wednesday that one of its largest wine brands has officially been sold.
The Duckhorn Portfolio, Inc. purchased Sonoma-Cutrer Vineyards for $50 million after reaching an agreement last year.
In November 2023, Brown-Forman agreed to sell the wine brand in exchange for an ownership percentage of approximately 21.5% in The Duckhorn Portfolio and $50 million USD.
As a part of the agreement, The Duckhorn Portfolio named two Brown-Forman executives to its Board of Directors, Chief Strategic Growth Officer Marshall Farrer and Chief Global Supply Chain and Technology Officer Tim Nall.
The Sonoma-Cutrer brand trademarks, facilities and six vineyards will join The Duckhorn Portfolio's luxury wine brands.
Make it easy to keep up-to-date with more stories like this. Download the WHAS11 News app now. For Apple or Android users.
Have a news tip? Email assign@whas11.com, visit our Facebook page or Twitter feed.
